Foreign Ownership of Islands in US Virgin Islands, Caribbean

The same open style real estate market found in the U.S. does not extend to their piece of paradise, the United States Virgin Islands. The USVI are an unincorporated territory of the United States. One takes and holds title, with the same guarantees you would have within the U.S. Real estate is owned fee simple and the deed is recorded and filed at the Recorder of Deeds.

But here’s where things differ. Federal law restricts some foreign citizens from owning real estate in the Territory. The United States prohibits non citizens of the U.S from owning land in the USVI, unless they are a citizen of country, party to a treaty with the United States. This prohibition extends to non-U.S. corporations. This prohibition can only be enforced by the government through the United States Attorney initiating escheat proceedings. That’s not likely to happen, but it’ unlikely that any investor would want to take the chance of losing their real property in the Territory.

Regional Statistics for US Virgin Islands, Caribbean

Location:

Caribbean, islands between the Caribbean Sea and the North Atlantic Ocean, east of Puerto Rico

Population:

108,605

Languages:

English, Spanish or Spanish Creole, French or French Creole

Capital:

English, Spanish or Spanish Creole, French or French Creole

Currency:

U.S. dollar

Climate:

subtropical, tempered by easterly trade winds, relatively low humidity, little seasonal

Temperature Range:

+21 to +32

Terrain:

mostly hilly to rugged and mountainous with little level land

Natural Hazards:

several hurricanes in recent years; frequent and severe droughts and floods; occasional earthquakes